The firm is developing therapies using organic and nature identical products.
One of its programs is for non-addictive analgesic peptides as a replacement to the highly addictive analgesics such as morphine, fentanyl and oxycodone.
Preveceutical said that via a meticulous process it had now identified five novel peptide constructs, which preferentially target the receptor subtype which is of interest to the company and is purported to avoid addictive and tolerance-inducing side effects.
This subset of peptides has demonstrated potency, in a well-accepted functional dose response assay, that is on par with clinically available agents, such as morphine, the company added.
Chief research officer Dr Harendra Parekh told investors: "We are very pleased with this promising development, as a result of numerous iterations between our peptide design and cell-based screening efforts, we have now yielded a number of constructs which discriminate between the key pain receptors in the body, and importantly, avoid activation of those purported to lead to dependence."
Preveceutical shares in Toronto were unchanged at $0.06 each.
Contact Giles at [email protected]
Follow him on Twitter @Gile74